Indonesia fintech

The financial terms of the agreement were not disclosed, but the latest deal has made Line Financial Asia the second-largest shareholder of PT Bank KEB Hana. “Through this partnership, we will launch easy-to-use and innovative banking services in Indonesia,” said Line Financial Asia CEO Hwang In-joon. “This agreement is an important step toward becoming a leader in mobile banking and expanding our fintech services.” “I believe Line’s advanced digital technology and KEB Hana Bank’s retail banking experience will prove to be the future of the banking industry, demonstrating a new financial model that begins in Indonesia.” said PT Bank KEB Hana President Lee Hwa-soo. The two firms will officially close the deal after obtaining approval from Indonesia’s financial authorities. After government clearance, Line -- one of the most popular chatting apps in Indonesia -- plans to launch a new digital banking service next … [Read more...] about Line acquires 20% stake in KEB Hana Indonesia

Jakarta (ANTARA News) - Financial technology (Fintech) companies in Indonesia are committed to supporting the government`s programs to increase financial inclusion to 75 percent in 2019. Fintech companies that target retails and micro transactions in a number of provinces in Indonesia will expand people`s reach to have financial access. Aidil Zulkifli, the CEO and Co-founder of UangTeman, a fintech company, said in a statement received by Antara here on Wednesday that people nowadays are beginning to utilize fintech services to meet their business needs. "As one of the fintech companies, UangTeman continues to be committed to supporting the government in its efforts to enhance financial inclusion in Indonesia. This commitment is showed in a socialization program that we continue to carry out." "Last week, for instance, we held some socialization programs in five cities in Indonesia, collaborated with an online motorbikes transportation company," Zulkifli noted. He said that … [Read more...] about Fintech firms support national finance inclusion target at 75 percent

Jakarta (ANTARA News) - UBpay, the application of financial technology from South Korea, collaborates with Finnet Indonesia, to encourage the inclusion of financial resources in the country. According to a news release issued by Finnet Indonesia here on Tuesday UB Global Academy Director, Jun Young Lee, said at BICC Westin Nusa Dua, Bali on Saturday (13/10) that Indonesia is a growing economy with a large population but most of the community payment transactions are still in cash. According to him, this potential makes Harex Info Tech, a company based in Seoul, South Korea, which develops UBpay, providing technology support to Finnet Indonesia through its application called Finpay. PT Finnet Indonesia is a joint venture company established by PT Telekomunikasi Indonesia or Telkom, through its subsidiary PT Multimedia Nusantara, with the Bank Indonesia Employee Welfare Foundation (PT Mekar Prana Indah). … [Read more...] about UBpay collaborates with Finnet Indonesia

Nusa Dua, Bali (ANTARA News) - President Joko Widodo welcomed bilateral currency swap arrangement (BCSA) valued at US$10 billion between Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) . "I welcome the swap and repo agreement between BI and Monetary Authority of Singapore valued at US$10 billion," President Joko Widodo (Jokowi) said in a joint press statement after the Annual Leaders Retreat with Prime Minister Lee Hsien Loong on the sidelines of the annual meeting of the International Monetary Fund and the World Bank 2018 here on Thursday. The two central banks agreed on swap facility up to US$10 billion in value between rupiah and Singapore dollar. President Jokowi said the global economic uncertainty had driven the two countries closer in economic cooperation. President Jokowi and Prime Minister Lee witnessed the signing of three memorandums of understanding by representatives of the two countries. "Two of the three MoU was on financial economic cooperation … [Read more...] about Jokowi welcomes currency swap agreement between Indonesia and Singapore

Jakarta (ANTARA News) - The government has initiated a seminar on financial technology (fintech) during the annual meeting of the International Monetary Fund-the World Bank (IMF-WB) in Nusa Dua, Bali. "Indonesia proposed the seminar on digital economy or Bali Fintech Agenda. This is the only flagship seminar initiated by the government of Indonesia," Chief of the organizing committee for the IMF-WB annual meeting, Susiwijono, said here on Monday. The Bali Fintech Agenda would be held on Thursday (Oct 11), where President Joko Widodo would give his keynote speech. Among the panelists at the seminar are IMF Managing Director Christine Lagarde, World Bank President Jim Yong Kim, and Indonesia`s Finance Minister Sri Mulyani. "The seminar would use the meeting agenda to encourage a global agreement on financial technology that could become a key reference for world countries," he noted. IMF and WB are formulating the principal of financial technology based on the agenda of its members … [Read more...] about Government initiates fintech seminar during IMF-WB meeting